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treasury secretary. big job. he want jack lew to replace timothy geithner. lew has been a budget director for president obama and former president clinton. he also has experience with banks. the former chief operating officer for city groi group. he has a wife and two children. ali, good to see you, my friend. lew is considered a budget whiz as we were discussing yesterday. >> yeah. >> a seclude negotiator if you like. quality that will come in handy when he takes on the negotiations with congress on the debt, reining in spending. tell us what you know about his negotiating style. >> i'll tell you, the one problem is that the white house in general has not been seen as the most successful group of negotiator. being the chief of staff to president obama might be seen as a bit partisan for the job. let me tell you, four years ago, michael, the world was in a financial crisis, it all circulated around banks and credit and central banks. timothy geithner was the guy for the job. head of the federal reserve. he was in the room when they decided to let lehman brothers fail. he knew what was goi
>>> the cabinet reshuffle continues, and next in the hot seat, jack lew. it is wednesday, january 9th, and this is "now." >>> joining me today, "rolling stones" eric bates, heather mcgee, former traveling press secretary for the obama campaign jen psaki, and the effortlessly elegant msnbc contributor jonathan capehart of "the washington post." at a time of great fiscal uncertainty and belt tightening, president obama is poised to nominate as the next treasury secretary a man who brings his lunch to work every day, a cheese sandwich and apple to be precise, president obama will reportedly tap jack lew tomorrow to replace timothy geithner. lew would take over on the eve of another debt ceiling battle. in round one during the summer of 2011, boehner's top staffer called lew's debt ceiling negotiations disrespectful and dismissive. according to david plouffe, that is because jack knows the numbers and republicans couldn't pull a fast one. two names are being floated to replace lew, dennis mcdonagh, currently his deputy national security adviser and ron klain. but the latest cabinet nomi
obama will announce jack lew as his nominee for secretary of treasurer. he staffers believe it will be approved. analyst say the president's pick is a sign he will move forward with planned economic reforms and do so aggressively. mr. lew served as coo of nyu and worked at citigroup and served as white house office of management and budget chief and is currently white house chief of staff. apparently job one will be to work with congress to raise the borrowing limit and prevent default that could come as soon as next month. the announcement is at 1:30 p.m. eastern time. stay with "power lunch." we will take you inside the white house for all the details. ty, back to you. >> very interesting. now, of course, another major event at the wlohite house. taking place right now. vice president biden's task force making a change in the way americans buy, sell and potentially use firearms. eamon javers live at the white house. eamon? >> there are some that biden himself might not participate in. we just heard from the vice prest as he emerged from his first meeting of the day and he
signature. this is jack lew. all signs point to president obama say i knowing him to replace tim geithner. and if he is nominated and confirmed, that will mean that our money might end up looking like this. because that is jack lew's signature on it. if he doesn't choose to tune up the legibility of the loop de loops like tim geithner did, our money mite look like this. what "new york" magazine described as a slinky that has lost its spring, republicans in washington are hinting that we won't actually have to worry about seeing jack lew's wacky signature on our money. they're saying he doesn't have to worry about changing the signature to it looks good on the money because he, jack lew, will never be the guy who has to actually sign the money. he will never be treasury secretary. politico.com today to be, quote, scoffing at the notion of jack lew as treasury secretary. mitch mcconnell is said to have been irked by mr. lew in the past. republican senator from nebraska, mike johanns called lew a controversial pick. the reasonable he is controversial is, quote, i think there are nick policie
: the president will be nominating the chief of staff jack lew as next treasury secretary. should we be gearing up for another confirmation battle? rich edson at the white house with the latest on this story. what do you think? rich: we very well could be. he refuses to address entitlements in spending. he is the typical big government liberal and a troubled person to deal with in his capacity as chief of staff for the white house but democrats point out he knows budgets. he has been a budget director for the clinton administration, obama administration and they say that is why they picked him. >> in the past quarter of a century jack lew has been an integral part of some of the most important budgetary financial and fiscal agreements, bipartisan agreement in washington. >> "rolling stone magazine" will have to come to the senate and tell what his thoughts are about the spending and how it plans to address it. rich: it is u up to send them to see this another proxy fight to add to the administration on their views about that deficit and spending. back to you. melissa: i have to wonder how his sena
treasury secretary. jack lew is a veteran of capitol hill and of more than one big major budget negotiations which is exactly what the president is facing right now. he's somebody with a low key demeanor who gets along well with others. his confirmation is expected to be not too difficult. what he doesn't provide is a strong business background or wall street ties, although he did work for citigroup for a while and he doesn't have the experience in financial regulation that tim geithner brought to the job having head of the federal reserve bank of new york during the financial crisis. but jack lew is expected to be announced today. the pecked speculation about his replacement as white house chief of staff has centered in the last 24 hours around dennis mcdonna. sources tell me that dennis mcdonough is the chief candidate. ron biden has already been a contender. wool see whether the president pairs the announcement of a new chief of staff with jack lew's appointment today. >> so jack lew seems to have the nomination locked up. danny krugman is expected to be looked go ahead at fo
will nominate his chief of staff jack lew as the next treasury secretary a little more than two hours from now. connell: joining us now is from the "wall street journal." >> he will be directing economic policy for the president and he's a long-time washington insider. he worked for tip o'neil. he worked for bill clinton. he's worked on the budget for president obama. [talking over each other] >> there is a revolving door there. he did go in 09 and he came out with a lot of money despite the fact that citi bank was limping along and had to be helped out by the government. dagen: when he worked just as one example in the clinton administration he was considered reasonable but not now. why? >> i think the big part of it is how he performed when he worked for president obama in the first term. but it's also i think most people expect him to be very much like an alter ego of the president. he subscribes to the ideas that the president has, that the big problem in this country is not how to create wealth, but how to redistribute it. that's really our challenge. just have to figure out how to get th
'm chortling here because of your outrage over the $1 trillion coin matched with your outrage over jack lew, i can't figure out which is mor amusing. should we put that in the democratic party platform? >> it already is, that's what's amusing. >> very good, very good. >> let's talk about jack lew for a second. normally this position should go to somebody from the finance world. i think that, unfortunately, that's very difficult to do that because the finance world had a lot to do with the crash in 2008. but normally those are the best people for this job. for treasury. and if you look at george w. bush, his first two people were quite able, especially paul o'neill, but they did not, were not able to do the treasury the way paulson did, which helped us get out of this dreadful problem that we had that started in 2008. so it is good to have a finance person. on the other hand, i believe you're wrong about omb. jack lew's been a terrific director of omb and most importantly, he absolutely does have a lot of foreign policy experience. when you're the chief of staff to the president of the united s
invitation to the media. melissa: i didn't get one. what are we talking about? who is jack lew? an inside look at the man poised to take over as treasury secretary. ♪ . ♪ [ male announcer ] this is karen anjeremiah. they don't know it yet, but they' gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some retirement people who are paid on salary, not commission. they'll get straightforward guidance and be able to focus on other things, like each other, which isn't rocket science. it's just common sense. from td ameritrade. lori: here's your fox business brief. snapping a two-day losing streak stocks continue their upward trend as fourth quarter earnings season gets off to a strong start with alcoa last night. right now the dow is up 61 points. >>> billionaire leon black apparently sweet on hostess. "new york post" says the head of private equity firm apollo global management teaming up with a met
it official and nominates jack lew for treasury secretary. but, he received a quote obscene million dollar bonus as his boss obama would put it while working at citibank which got bailed out to the tune of $45 billion. is that part of the jack lew story that's going to make him toxic in his confirmation hearings? >>> and we go out to san diego where the family of the late nfl star junior learned he had a brain disease when he committed suicide. did football kill him? >>> and back to hollywood, my favorite movie of the year "lincoln" gets the lion share of oscar nominations. this is a fabulous film about government dysfunction and how abe lincoln solved it then. can we learn something about it now? the "kudlow report" begins right now. >>> first up this evening, call it the d.c. gun show. all the major gun players meeting with vice president joe biden and attorney general eric holder. cnbc's own eamon javers joins us now with all the details. good evening, eamon. >> good evening, larry. well, even as the vice president was holding a meeting in the white house complex today about gun control
at this, if jack lew is confirmed as treasury secretary, this will be the signature you see on the dollar bill. looks like a printing. "varney & company" is about to begin. joe doesn't know it yet, but he'll wk his way up from busser to waiter to chef before opening a restaurant specializing in fish and me from e great northwest. he'll start investing early, he'll find some good people to help guide him, nd he'll set money aside from his first day of work to his last, which isn't rocket science. it's just common sense. from td ameritrade. nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save money by using fedex ground and buy my own supplies. that's a great idea. i'm going to go... we got clients in today. [ male announcer ] save on ound shipping at fedex office. >> good morning, "varney & company" viewers, today is thursday, january the 10th. the big story of the day is guns, and just how the president will deal with the very strong calls for action. the public wants something done. how will
is what is "money" tonight. jack lew gets the nod for new treasury secretary. senator jeff sessions is outraged and vowing to block lew's senate confirmation. he will join us to explain why. >>> why this flu epidemic is making our economy sick. experts say we're looking at a possible $10 billion hit on the economy from the flu. that is what we need. details are coming up. >>> how much is an oscar really worth to a movie? the 2013 academy award nominees are out. studios dropped 10 of millions of dollars on their oscar campaigns. a top industry expert is here to crunch the numbers. even when they say it's not, it is always about money. melissa: we start today with another school shooting. it happened at taft union high school in california. one student was shot. the sheriff says they have one suspect in custody. makes the meetings on gun control today, on capitol hill even more urgent. the fact that vice president joe biden met with the nra and other gun rights activists on possible new federal regulation. at the same time attorney general eric holder was talking to retailers about so
, jack lew. jack lew who has one thing in common with president obama's last three presidential nominations, john kerry, chuck hagel and john brennan they are all white males. does the president have a diversity problem? hey, we'll get into that. afterall, he is the first african-american president. but first the latest out in los angeles, here she is with today's current news update, lisa ferguson. hi, lisa. good morning. >> hey bill. good morning everyone. vice president joe biden continues his talks on gun control today. he's meeting at 2:15 this afternoon with representatives from the video gaming community along with researchers who study the effects of simulated violence on young kids. last night's meeting with the hollywood entertainment industry went relatively well according to representatives at the meeting. they said the industry appreciates being included in the dialogue and looks forward to doing its part in seeking meaningful solutions. it still is not quite clear though what more washington can do to force tv shows and movies to temper the violence. >>> as for yes
in washington. jack lew officially nominated as treasury chief. lew is known for his role in the being acrimonious talks in 2011. what could it mean this time. >> tiffany disappoints again with weaker holiday sales. there was weakness in the americas, strength in asia. so how much of a read through to the rest of retail is this earnings report? >>> nokia shares soaring this morning after a bullish outlook for the first quarter. >>> and herbal life's big day to defend itself against bill ackman's damning allegations. we'll have the latest and the ceo join us later in the show. >>> well, today president obama is set to nominate white house chief of staff jack lew as his next treasury secretary. succeeding tim geithner. lew has been budget director in both the obama and clinton administrations. he will pray a major role of course in negotiations over the debt ceiling and potential spending cuts. the president will make his announcement at 1:30 eastern. it's an event in the east room at the white house. i have to say off the bat just because he's a forest hills guy like me that i, you know
'm interested in, for example, in the treasury secretary position, jack lew, you know, this is somebody who is a safe pair of hands. it's somebody who is not going to rock the boat, and i wonder if that doesn't represent kind of the hunkering down economically in a way kind of a saying, you know, we're not going to take on any new big topics. we're going to have to be battling the same -- >> you interpret that as hunkering because i think a lot of other people say -- and the "wall street journal" has plenty to say on this. team of liberal loyalists they write. "as budget director and chief of staff in the obama white house, mr. lew has been the president's most partisan and implaquable negotiator. he no doubt reflects mr. obama, but no one should think he'll emerge at his own in the treasury." >> i think you want pick garrett ginslerin. if you wanted to make big changes in jobs and investment, it would have been a more -- >> the first fight, though, is taking on congress, and that's -- >> that's a point of making. >> and one of the reasons they don't like him, so many republicans, that in 2
as jack lew is somebody who served as chief of staff. he was budget director before that. he served in hillary clinton's state department. he does not have a deep background and ties to wall street and business. he's a creature of congress, made his name in washington working for tip o'neal, the house speaker. very hard working, very key, very bright. republicans found him a difficult negotiators in some of the budget talks over the last couple of years, but i would expect, andrew, that he's going to be confirmed pretty handily even though he'll have difficult questions in his confirmation hearing. >> john, how disappointed -- and perhaps now, but it appears that the business community seems disappointed, if you read "the wall street journal" editorial page today. there's a sense of disappointment that the president didn't pick somebody from the business community, somebody with more experience in the world of finance private sector as joe would say. >> i understand the disappointment because they want one of theirs. but, you know, president obama wants one of his in that job. when
decided to nominate his current white house chief of staff, jack lew to secede timothy geithner. gloria, do we expect any serious opposition? >> well, there are going to be republicans who oppose him. senator sessions, the ranching republican on the budget committee came out and said he would not support jack lew. >> because? >> because of his testimony before the deficit committee and that the budget could be reduced. he said that's evidence that jack lew should not be confirmed. particularly on these fiscal matters, he did run the office of budget during the debt ceiling negotiations and i remember from covering those debt ceiling noish ags that republicans didn't like him very much, wolf. some of them said to me that jack lew kept moving the goal posts on them. yes, there will be opposition. for chuck hagel, no. i believe in the end jack lew will get confirmed. but i'll tell you this, the reason the white house put off the announcement of jack lew until tomorrow is because of the fiscal cliff. they didn't want it to get involved in the negotiations for the fiscal cliff. they felt tha
all cited by president obama as he nominated his chief of staff, jack lew, to be the next treasury secretary but the announcement is drawing attention to the makeup of the president's second-term cabinet. it's on track to be dominated by men. our white house correspondent brianna keilar is joining us from the white house. what is the white house saying about all of this? >> reporter: wolf, the white house has been asked about this quite a bit. white house press secretary jay carney has said that the president believes diversity is important and he's highlighted that there are a number of women serving in the white house and in the administration and indeed there are, wolf, and there's lack of topics in his cabinet. president obama choose a trusted insider to replace timothy geithner as treasury secretary. >> under president clinton, he presided over three budget surpluses in a row. so for all of the talk out there about deficit reduction, making sure our books are balanced, this is the guy who did it three times. >> reporter: jack lew, obama's chief of staff and former budget direc
. spiezio president obama is now nominating jack lew to replace timothy geithner. welcome, everybody. let's just say this president loved the movie and it ended there. this president's cabinet is a far cry from that president's cabinet. again confirming it is more loaded with inside the box than outside the box. forget john kerry and chuck hagel. think of a time when a president surrounded himself with meaningful people. i'm not saying that jack lew doesn't deserve to be the secretary. but he's just not a lincolnesque choice. a president who dared to break the mold. >> is asking the world that they are up to the task? let's ask john layfield and chris stirewalt and myra weinstein. it did hearken back to a time when lincoln was very comfortable with the cabinet. what happened to those days? >> one of the things that has happened is we don't do much with cabinets anymore. they are there for photo ops. outside, there are a couple of key spots in defense justice. the president isn't engaged and he was back and forth for pictures. the other part is that for the president we have gotten to know
confidants, including jack lew, who has already held two top positions. >> i believe this man has been the architect of the obama budget policy. i believe it's very fundamentally wrong, and i do not believe he has been honest with the american people about it. >> several senate republicans have made it clear that jack lew will be a fight just as chuck hagel will be a fight, just as susan rice was a fight. the second problem for president obama is that so far his chosen bantd doesn't include any sisters, nor does it include any racial diversity. even members of his own party are expressing dismay. new york democrat charlie rangel called the lack of women embarrassing as hell and yesterday chairwoman of the congressional black caucus, marcia fudge wrote a letter urging the president to nominate two members of the cbc. bill, you are a former diverse member of the president's -- >> still diverse. >> yes. you remain diverse, though not sequestered at 1600 pennsylvania avenue, for which we are thankful. i wonder what you make about this contention that he is being too insular, a, in terms of
made by the financial crisis and the housing industry. this comes as jack lew will become the next person to be nominated into that position. we want to talk to you about timothy geithner, his legacy, his time served as the treasury secretary, and your thoughts on what he has done or not done depending on your opinion. here is how you can join us this morning. you can give us a call -- if you want to send us a twet -- @cspanwj facebook.com/cspan this is how "the new york times"highlights some of his accomplishments. it says here -- that is "the new york times." prefers to 45, your thoughts on timothy geithner as the secretary treasury. -- for the first 45 minutes, your thoughts on timothy geithner as secretary treasury. more from "the new york times." they continue to write that housing is another area his leadership has been criticized. one more bit from "the new york times." although he is mostly known for his work in the financial crisis, he is also the same minister. to europe and the debt crisis and spending hundreds of hours working. that is a bit from "the new york times." j
for the second term. this afternoon, he'll announce that white house chief of staff, jack lew, is his pick for treasury secretary. that means for the first time in years, all of the premier cabinet positions will be covered by money. jon karl is covering the shuffle in the white house. good morning, jon. >> reporter: good morning, george. some critics aring le inlooking emerging second-term cabinet and wondering, where are the women? today, jack lew for treasury secretary. earlier this week, chuck hagel for defense. and john brennan for cia. and before that, john kerry for secretary of state. four top appointments since the election. four men. and then, this. "the new york times" published the white house photograph wednesday, showing the president speaking with top advisers in the oval office. ten people visible, all men. and late wednesday, labor secretary, hilda solis announced e's leaving. the third woman in the cabinet heading for the exits. all this prompted "washington post" columnist, ruth marcus, to quip, it's "mad men" goes to washington, except peggy's leaving. >> it's time for
dropping out of the presidential race and the president nominates jack lew for treasury secretary. is this the right man for the job? we'll ask charles krauthammer. that and more straight ahead. [ male announcer ] some day, your life will flash before your eyes. make it worth watcng. introducing the 2013 lexus ls. an entirely new pursuit. for their "destination wedding." double miles you can "actually" use. but with those single mile travel cards... [ bridesmaid ] blacked out... but i'm a bridesmaid. oh! "x" marks the spot she'll never sit. but i bought a dress! a toast... ...to the capital one venture card. fly any airline, any flight, anytime. double miles you can actually use. what a coincidence? what's in your wallet? [ all screaming ] watch the elbows ladies. [ male announcer ] how do you turn an entrepreneur's dream... ♪ into a scooter that talks to the cloud? ♪ or turn 30-million artifacts... ♪ into a high-tech masterpiece? ♪ whatever your business challenge, dell has the technology and services to help you solve it. >> i cannot think of a better person to continue
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obama makes another cabinet change. today the president nominated his chief of staff jack lew as the treasury secretary. president obama says that his judgment can be trusted and he can work with both parties. that is the fourth major staffing change made by the president. analysts say he may face tough criticism but is expected to be confirmed. >> now your insta-weather plus 11 forecast with chief meteorologist tom tasselmyer. >> 12 degrees above average for this 10th day of january. it will be warmer than that this weekend. hard to believe. no records in site. at least nothing we can see. the records are well up in the 70's. of 41 average temperature feels kind of chili. we will not see that until maybe next week. these late afternoon, early evening temperatures are more indicative of what we might be expecting for an afternoon high. temperatures well above freezing. 50 downtown. cloud cover coming in to prevent the temperatures are from falling very much. these clubs are pushing across the mountains and into baltimore. the rain is to the west. the blanket of cloudiness keep
: this could be a battle, a battle over the president's nomination for jack lew as treasury secretary. republican senator jeff sessions has become the first senator that vows to vote no on that nomination. white house spokesman jay carney with this comment just yesterday that got some attention about our out of control debt. >> most importantly, because deficit reduction is not a goal, a worthy goal unto itself this is all about making our economy stronger and making it more productive and allowing it to create even more jobs. i mean that is the most important thing when it comes to economic policy as far as the president's concerned. bill: okay. steve hayes, senior writer, "weekly standard", fox news contributor. interesting comment i think at a minimum. specifically on senator sessions, strong words. lew must never be treasury secretary. he calls outrage just testimony, testimony that he doctors false, that lew gave to the senate budget committee two years ago. there is baseline of information we need to share first of all. what is that about the testimony? >> well, i think the thin
, president obama has officially nominated jack lew for treasury secretary. that announcement was made last than half an hour ago. he is if line to replace geithner. last year, he was chosen to be the president's chief of staff and has a reputation as a tough marketers. republicans claim he is few unyielding in past fiscal negotiations but he will unlawful be nominated for secretary of penmanship. can you read that signature? can you read that signature? it will be appearing on all u.s. money if he is confirmed and he will try to improve his handwriting. >> can we forge that? same reason i could never be treasury secretary, either. >> that was interesting. glad he doesn't write prescriptions. now, going outside, you can see the clouds are out there. i will keep the showers in the forecast going today and the cold air comes in tonight with the showers and that is the lingering legacy of the storm system and a chance of showers during the 49ers and packers playoff game. i will give you an update on that. >> the oscar nominations are out and we will go >> movies and actors have been nominated
the last budget cycle. >> right now in washington, president obama has officially nominated jack lew for treasury secretary. that announcement was made last than half an hour ago. he is if line to replace geithner. last year, he was chosen to be the president's chief of staff and has a reputation as a tough marketers. republicans claim he is few unyielding in past fiscal negotiations but he will unlawful be nominated for secretary of penmanship. can you read that signature? can you read that signature? it will be appearing on all u.s. money if he is confirmed and he will try to improve his handwriting. >> can we forge that? same reason i could never be treasury secretary, either. >> that was interesting. glad he doesn't write prescriptions. now, going outside, you can see the clouds are out there. i will keep the showers in the forecast going today and the cold air comes in tonight with the showers and that is the lingering legacy of the storm system and a chance of showers during the 49ers and packers playoff game. i will give you an update on that. >> the oscar nominations are out
secretary. jack lew takeover of the administration's affairs for a new fight with republicans over the nation's debt. >> in the names of one former senator, having him on your team is the equivalent of having a coach of having a player to put somebody at any position and knowing he will do well. >> he has experienced on balancing budgets in the clinton administration. if confirmed, he will replace timothy geithner who led the department to the economic turmoil of the first term. as we told you on thursday, we have -- lew has been criticized for his bad current -- for his bad signature. >> the president even joked about this, saying that he consider rescinding the nomination after seeing the loopy signature. this was posted on buzzfeed. the loops. >> that is a close resemblance to his signature. it is 4:51 right now. 41 degrees. >> a huge surprise for local youth battling brain cancer. it is a story will see only on seven. >> at coming up, going on a trial. we will meet a woman who rejected cosmetics. why she says that she feels more >> good morning, everyone. i am meteorologist jac
to nominate jack lew for treasury secretary today, so is this signature coming to a dollar bill near you today? january 10th, 2013. >>> good morning, welcome to "today" on this thursday morning. i'm savannah guthrie. >> i'm in more matt this morning. this case is pretty serious. nine states, health officials reporting a real problem in massachusetts. >> that's right. at least 18 flu related deaths so far. 700 confirmed cases in boston alone. hospitals are overrun with people complaining with flu-like symptoms coast-to-coast. we'll get the latest in a report straight ahead. and carl, after confess iing to all of us, only matt received his flu shot. we're going to do something. we're going to get a flu shot. >> i'm already thinking which arm to roll up. >> roll up that sleeve. i wore short sleeves on purpose. >>> joe biden comes face to face with members of the nra today. at the white house with details. >>> surprising punishments of some distracted drivers involved in deadly crashes are now getting, why are some of these sentences just so light. >> savannah, as you get set to head to the golden
for the frying pan tonight. >> cenk: jack lew. >> jennifer: oh, i see you're going to fry him. he's not a guest. >> cenk: no. >> jennifer: cenk, cenk, cenk, honestly he's good guy. >> cenk: we're going to talk to william black one of the regulators on the s & l crisis. he thinks jack lew having worked for the banks is a significant issue. we'll talk about that. i want to talk about progressive victories as well, and victory after victory is the gay rights groups, which is great. they had an anti-gay pass taken out of the inauguration. how did they do it? i think a lot of progressives can learn from the gay rights movement. and then the press conference on guns control was interrupted by a gun shooting. >> jennifer: yes, i'm interested in the pastor who was pulled out. it's interesting how it was phrased, he decided to pull himself out but there is a lot going on behind the scenes and that's what you're looking at. >> cenk: absolutely. anyone who withdraws oh, i didn't want to cause a distraction, but normally it's the progressives who is withdrawing. how do progressives get that victory? we hav
that president obama had plans to nominate his chief of staff, jack lew, for treasury secretary. now, the official announcement will be made at 1:30 p.m. eastern today. if confirmed, lew would succeed timothy geithner, the last member of the original economic team that took office four years ago. that was, of course, you'll remember, at the height of the world economic crisis. dan lothian joins us live at the the white house. boy, did you ever have the news yesterday. you were the first on the air with it. what's the reaction been, though. you know it doesn't take long before the knives comes out. >> reporter: it doesn't. the white house still believing he is the strongest candidate to succeed timothy guieithner. talking about his extensive experience at citigroup and serving in the public sector as the budget chief and with former president bill clinton during a time when they balanced the federal budget. so when you put that together with being around in this administration during a difficult fiscal time and the fiscal challenges with the debt ceiling, he is the right person for th
. but president obama could announce his new pick for treasury secretary as soon as today. jack lew is reportedly the current's -- could be his nominee. he's currently the chief of staff, also a former budget director, as well. insiders say he's the best person to take on the many looming battles with congress that are coming up, including the battles over the debt ceiling and those pending budget cuts. and if he is confirmed, you'll be seeing a lot more of this. that is jack lew's looping signature on every new greenback that is printed. it's been described as a slinky that lost its spring. lew says he'll make his name more legible if, in fact, he does get the job. >>> and vice president joe biden meets with the nra today as the debate over gun violence intensifies. it could be a tough sell since the group has already said it opposes any new restrictions on fire arms. among those speaking out is new york's governor. andrew cuomo is urging lawmakers in his state to close loopholes on the state's assault weapons ban. >> this is not taking away people's guns. i own a gun. i own a remington shotgun.
out until january 25th in the treasury, giving jack lew to confirm and i guess perfect his signature. let's see what we've learned, what does he leave for jack lew. he got the stress test done. actually, that's not correct there. let's move away from that. what we're talking about here is the -- let me go to my notes. the stimulus was done -- but sustained growth was not. frank dod basel iii was not done. aig also done. what is the geithner model? what is the geithner doctrine? i think you can say like this, overwhelming government force when it's clear it's needed. b in a crisis, spend, regulate and guarantee and do it with conviction. let's talk about one of the things left over from the geithner years, which is going to be the issue of debt and deficit. i think you would say there was some accomplishment when it came to getting some of these deals in place. but ultimately, he probably thought that some of these things would come off and be declining faster than they have. we've learned a lot about the financial crisis. in fact, we're going to be debating the correct government res
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